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- PassiveLogic
PassiveLogic Funding, Investors & Competitors
PassiveLogic has raised $152M across 9 funding rounds, most recently a $74M Series C in September 2025.
Last PassiveLogic funding round
$74M
Series C · Sep 2025
Cumulative funding PassiveLogic raised
$152M
across 9 funding rounds
Key investors in PassiveLogic
Addition
noa
Keyframe Capital Partners
Brookfield Growth
RET Ventures
NVIDIA
NVentures
Prologis Ventures
About PassiveLogic
PassiveLogic is a Salt Lake City-headquartered company building autonomous systems for commercial structures via physics-based digital twins. Launched in 2016, its Quantum platform generates control logic for HVAC, lighting, elevators, and plumbing without manual coding. Deployed in office towers and data centers across North America, it integrates with BACnet and Modbus protocols to optimize energy use and occupant comfort.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
PassiveLogic Funding History
PassiveLogic has raised a total of $152M across 9 funding rounds.
PassiveLogic's first fundraising round was a $600K pre-seed round in January 2016. The most recent completed round was a $74M Series C in September 2025.
PassiveLogic funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2025 | Series C | noa (lead); NVentures; Johnson Controls; Keyframe Capital Partners; Addition; Prologis Ventures; Brookfield Growth; PSP Growth | $74M | PassiveLogic, a Salt Lake City-based pioneer in generative autonomy, develops AI software for the built environment that enables autonomous control of buildings and infrastructure using physics-informed AI, quantum digital twins, and the world's fastest AI compiler. Its platform, including the Hive product for real-time decision-making, Sense Nano wireless sensors, and Quantum Lens mobile app for digital twins, targets data centers, hospitals, office towers, and industrial campuses with capabilities like asset tracking, energy management, fault detection, and predictive maintenance. The company reimagines buildings as infrastructural robots, supporting design, operation, and maintenance with generative AI. On September 18, 2025 (some sources note September 16), PassiveLogic raised $74 million in a Series C funding round led by noa, Europe's largest built-world VC. New investors included Prologis Ventures, Johnson Controls, and PSP Growth, while returning investors were Addition, Brookfield Growth, NVentures (NVIDIA's venture arm), and Keyframe Capital Partners. This brought total funding to over $125 million, with proceeds aimed at scaling the platform's deployment for physical AI in real-world infrastructure and expanding operations. PassiveLogic's technology achieves high energy efficiency, with its Differentiable Swift compiler delivering 992x better performance than TensorFlow for edge-based optimization, and claims 40% reductions in building emissions. The company projects the autonomous buildings market at $1.3 trillion, outpacing traditional automation at $191 billion by 2030, positioning itself to drive decarbonization and innovation in Utah's deep-tech scene. |
| Sep 2022 | Undisclosed stage | NVIDIA (lead) | $15M | PassiveLogic is an autonomous building control software platform that uses physics-informed AI and digital twin technology to automate and optimize building systems operations. The company's platform creates physics-based digital twins from 3D building data to predict equipment interactions and make autonomous control decisions for real-world building systems, with all computing and storage occurring at the edge for privacy and security. In September 2022, PassiveLogic secured $15 million in strategic venture funding from Nvidia's corporate venture arm, nVentures, representing a major validation despite the company being pre-launch. The investment was intended to support headcount expansion from 100 to 140 employees and to drive integration between PassiveLogic's platform and Nvidia's Omniverse platform. This funding followed an earlier $15 million raise and preceded subsequent rounds that brought total funding to over $125 million by September 2025. At the time of the Nvidia investment, PassiveLogic had contractual commitments from initial customers and distribution partners planning to integrate the platform into construction and retrofit projects, though no products had yet been released to market. The company's go-to-market strategy and the technical expertise of its team impressed Nvidia despite the lack of public product releases or published revenue metrics at that stage. |
| Apr 2022 | Series A | Brookfield Growth (lead) | $12M | PassiveLogic develops a fully autonomous smart building platform using digital twins to enable buildings to monitor themselves and make real-time decisions for energy efficiency. The platform has demonstrated 30% energy savings in the field and supports carbon neutrality goals through enterprise applications. In April 2022, PassiveLogic raised $15 million from Brookfield Growth to advance its autonomous building platform for retrofitting buildings across sectors. This followed a $34 million Series B in January 2022 led by Addition and Keyframe Capital Partners, with Brookfield's participation, bringing total funding over $68 million including a $1.2 million U.S. Department of Energy grant. |
| Jan 2022 | Series B | Addition (lead); Keyframe Capital Partners (lead); RET Ventures; Era Ventures; noa; Brookfield Growth | $34M | PassiveLogic, founded in 2016 by Troy Harvey and Jeremy Fillingim, is a platform company creating autonomous building control systems and digital twins for the built environment. The company developed Autonomy Studio, a software environment that allows users to build physics-based digital twins by simply drawing, with applications deploying on the Hive, a scalable hardware automation platform. The company claims its solution reduces energy consumption by approximately one-third compared to conventional building controls and delivers 90% labor savings in programming, installation, and commissioning. In January 2022, PassiveLogic raised $34 million in Series B funding led by Addition and Keyframe, with participation from RET Ventures, Brookfield Growth, Era Ventures, and A/O PropTech. The funding was intended to modernize building infrastructure and connectivity while expanding partnerships with building owners, operators, architects, engineers, contractors, and utility partners. By September 2025, the company had raised over $125 million in total funding across multiple rounds, including a $74 million Series C led by noa and joined by Prologis Ventures, Johnson Controls, and PSP Growth. |
| Oct 2020 | Series A | Addition (lead); Keyframe Capital Partners (lead); RET Ventures; NREP; noa | $16M | PassiveLogic develops the first fully autonomous building controls platform using digital twin technology, physics engines, and AI to enable real-time autopilot for buildings without requiring engineering teams or AI training. The company raised $16 million in a Series A round on October 14, 2020, led by Keyframe Capital and Addition, with participation from RET Ventures, A/O Proptech, and NREP. Founded in 2016 by Troy Harvey and Jeremy Fillingim, PassiveLogic targets the buildings market by bringing autonomous controls from self-driving vehicles, allowing installation in new or existing buildings in one-tenth the time of conventional HVAC systems and reducing energy consumption by 30%. Following the round, the U.S. Department of Energy awarded PassiveLogic a $1.1 million contract to define an industry digital twin standard for next-generation automation systems, with additional support from Belimo. |
| Jan 2020 | Pre-seed | - | $200K | - |
| Jan 2018 | Pre-seed | - | $300K | - |
| Aug 2016 | Pre-seed | - | $300K | - |
| Jan 2016 | Pre-seed | - | $600K | - |
Who has invested in PassiveLogic?
12 investors have backed PassiveLogic across its funding rounds, including Addition, noa, Keyframe Capital Partners, Brookfield Growth, RET Ventures and NVIDIA.
Lead investors include noa, NVIDIA, Brookfield Growth, Addition and Keyframe Capital Partners.
PassiveLogic Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2020 | ||
| 3 | Lead | Oct 2020 | ||
| 3 | Lead | Oct 2020 | ||
| 3 | Lead | Jan 2022 | ||
| 2 | Participant | Oct 2020 | ||
| 1 | Lead | Sep 2022 | ||
| 1 | Participant | Oct 2020 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Sep 2025 | ||
This data is available for Pro users. Sign up to see all 12 PassiveLogic investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPassiveLogic Competitors
PassiveLogic competitors include listed companies like SAP and Snowflake, and private ones like ElevenLabs, Quantum Systems, Commure and SandboxAQ.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $500M | - | $11B | 22.0x | ||
| Private | $330M | - | $8B | 24.2x | ||
| Private | $200M | - | $7B | 35.0x | ||
| Private | - | - | $5.8B | - | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x |
PassiveLogic Public Comps
PassiveLogic is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Trane Technologies, Johnson Controls, Datadog and Moody's.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $24B | $9.3B | 4.3x | 3.9x | 10.9x | 8.2x | |||
| $21B | $4.3B | 4.5x | 4.2x | 22.6x | 20.6x | |||
| $24B | $3B | 4.0x | 3.7x | 31.0x | 20.0x | |||
This data is available for Pro users. Sign up to see all PassiveLogic competitors and their valuation data. Start Free Trial | ||||||||
Common questions about PassiveLogic
| When was PassiveLogic founded? | PassiveLogic was founded in 2016. |
| Where is PassiveLogic headquartered? | PassiveLogic is headquartered in Salt Lake City, UT, United States. |
| Is PassiveLogic publicly listed? | No, PassiveLogic is a private, VC-backed company. |
| How much funding has PassiveLogic raised? | PassiveLogic has raised $152M across 9 funding rounds. |
| What was PassiveLogic's last funding round? | PassiveLogic's last funding round was a $74M Series C in September 2025, led by noa. |
| Who are PassiveLogic's investors? | PassiveLogic's investors include Keyframe Capital Partners, Addition, noa, Brookfield Growth, RET Ventures, NVIDIA, NREP, NVentures, Johnson Controls, Prologis Ventures and 2 others. |
| Which companies are comparable to PassiveLogic? | Companies comparable to PassiveLogic include ElevenLabs, Quantum Systems, Commure, SandboxAQ, SAP and Snowflake. |
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